12.5 4 points PA8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Softee Sodas and Patterson Beverage Company are two of the largest and most successful beverage companies in the world in terms of the products that they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following rounded amounts reported in their annual reports (amounts in millions). eBook Fiscal Year Ended: Net Sales References Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Required: Softee Sodas Patterson Beverage Company 2018 $ 35,660 4,130 550 3,580 2017 $ 39,520 4,390 540 3,850 2016 $ 44,440 4,580 530 4,050 2018 $ 71,440 7,680 100 7,580 2017 2016 $ 72,120 7,590 130 $ 66,660 7,250 140 7,460 7,110 1. Calculate the receivables turnover ratios and days to collect for Softee Sodas and Patterson Beverage Company for 2018 and 2017. 2-a. Which of the companies was quicker to convert its receivables into cash in 2018? 2-b. Which of the companies was quicker to convert its receivables into cash in 2017? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Calculate the receivables turnover ratios and days to collect for Softee Sodas and Patterson Beverage Company for 2018 and 2017. (Use 365 days in a year. Do not round intermediate calculations on Accounts Receivable Turnover Ratio. Round your final answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.) 2018 2017 Softee Sodas Patterson Beverage Company Softee Sodas Patterson Beverage Company Receivables Turnover Ratio Days to collect